Washington Trust's Commercial Real Estate Group provided $5 million in construction financing to Scandinavian Home, Inc. for a 2,000 s/f addition to an assisted living facility as well as renovations to existing facilities. Founded in 1930, Scandinavian Home is a non-profit community located in the Edgewood section of the city. The facility offers assisted living community and a skilled nursing and rehabilitation center.
"The Scandinavian Home has provided quality care for more than 80 years and this expansion will help them continue their fine services for years to come," said Joseph MarcAurele, Washington Trust chairman, president and CEO.
Washington Trust's commercial real estate group provides commercial real estate mortgages for the construction, refinancing, or purchasing of investment real estate projects.
Founded in 1800, Washington Trust is one of New England's premier financial services companies, providing commercial banking, personal banking, mortgage banking, and wealth management services to individuals and institutions throughout the region. Their commercial banking group offers a full line of commercial and industrial lending, commercial real estate, and cash management services to borrowers throughout the Northeast. Their team of experienced professionals are dedicated to providing customized, comprehensive financing and personalized services. The Washington Trust is a subsidiary of Washington Trust Bancorp, Inc.